POPEYES 30 Cook Street Blue Ridge, GA 30513 - investment offering - Wertz Real Estate Investment ...
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
POPEYES
30 Cook Street
investment offering Blue Ridge, GA 30513
REPRESENTATIIVE PHOTO
TABLE OF CONTENTS DISCLAIMER
This Marketing Package was prepared by Wertz Real Estate Investment Services and DZ Net Lease
Realty, LLC (“Broker”) solely for the use of prospective buyer considering the purchase of the Property
within (the “Property”) and is not to be used for any other purpose. Neither the Broker nor the Owner of
the Property make any representation or warranty, expressed or implied, as to the completeness or
accuracy of the material contained in the Marketing Package.
Prospective purchasers of the Property are advised that changes may have occurred in the physical or
financial condition of the Property since the time this Marketing Package or the financial statements
herein were prepared. Prospective purchasers acknowledge that this Marketing Package and the
financial statements herein were prepared by Broker, and not by Owner, and are based upon
assumptions or events beyond the control of both Broker and Owner, and therefore may be subject to
variation. Other than current and historical revenue and operating expense figures for the Property,
Owner has not, and will not, provide Broker or any prospective purchaser with any projections regarding
the Property. Prospective purchasers of the Property are advised and encouraged to conduct their own
comprehensive review and analysis of the Property.
Financial Overview 3 The Marketing Package is a solicitation of interest only and is not an offer to sell the Property. The Owner
and Broker expressly reserve the right, at their sole discretion, to reject any or all expression of interest or
Tenant Overview
offers to purchase the Property and expressly reserve the right, at their sole discretion, to terminate
4 discussions with any entity at any time with or without notice.
The Owner shall have no legal commitments or obligations to any entity reviewing the Marketing Package
Executive Summary 5 or making an offer to purchase the Property unless and until such offer is approved by Owner pursuant to
its Governing Authorities and the signature of the Owner or Owner’s representative is affixed to a Real
Estate Purchase Agreement prepared by Owner.
Property Photos 6-8 This Marketing Package is confidential. By accepting the Marketing Package, you agree (i) that you will
hold and treat the Marketing Package and its contents in the strictest confidence, (ii) that you will not
Location & Area Maps 9-10 photocopy or duplicate any part of the Marketing Package, (iii) that you will not disclose the Marketing
Package or any of its contents to any entity without the prior authorization of the Owner, and (iv) that you
will not use the Marketing Package in any fashion or manner detrimental to the Owner or Broker.
Market Overview 11 Broker has obtained the information contained in this Marketing Package from sources we believe to be
reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation
Demographic Report 12 about it. It is submitted subject to the possibility of errors, omissions, changes of price, rental or other
conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions,
assumptions, or estimates for example only, and they may not represent current or future performance of
the Property. You and your tax and legal advisors should conduct your own investigations of the physical
condition of the Property and of the financial performance of its future Ownerships.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT BROKER FOR
MORE DETAILS.
For more information contact:
John R. Wertz Michael Mulvihill
Tel: (619) 218-6427 Tel: (858) 442-7298 Listed with Georgia broker
jwertz@wertzrealestate.com mmulvihill@wertzrealestate.com DZ Net Lease Realty, LLC
CA Lic No. 01448585 CA Lic. No. 02059623 Lic. No. h-63528
financial overview
OFFERING SUMMARY
PRICE $2,860,000
DOWN PAYMENT 100% / $2,860,000
RENTABLE SQUARE FEET 2,144 SF
cap rATE 5.00%
year built 2021
lot size 2.11 +/- Acres
type of ownership Fee Simple
REPRESENTATIIVE PHOTO
TENANT SUMMARY
ANNUALIZED OPERATING DATA
TENANT TRADE NAME Popeyes
Rent Increases Annual Rent Monthly Rent
OWNERSHIP Public
Years 1-5 $143,000.00 $11,916.67
LEASE GUARANTOR Franchisee
Years 6-10 $157,300.00 $13,108.33
LEASE TYPE Absolute NNN
Years 11-15 $173,030.00 $14,419.17
roof & structure Tenant Responsible
Years 16-20 (Option 1) $190,333.00 $15,861.08
original lease term Fifteen (15) Years
Years 21-25 (Option 2) $209,366.30 $17,447.19
rent commencement date 10/01/2021
Years 26-30 (Option 3) $230,302.93 $19,191.91
lease expiration date 09/30/2036
Years 31-35 (Option 4) $253,333.22 $21,111.10
term remaining on lease Fifteen (15) Years
increases 10% Every 5-Years BASE RENT $143,000.00
OPTIONS TO RENEW (4) 5-Year Options NET OPERATING INCOME $143,000.00
RIGHT OF FIRST REFUSAL No TOTAL RETURN yr-1 5.00% $143,000.00
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
TENANT overview
PROPERTY NAME Popeyes
POPEYES LOUISIANA KITCHEN, INC.
PROPERTY ADDRESS 30 Cook Street
Founded in New Orleans in 1972, Popeyes Louisiana Kitchen, Blue Ridge, GA 30513
Inc., (Nasdaq: PLKI), is one of the largest quick service restaurant
chains in the world; with more than 2,600 restaurants in the U.S. PROPERTY TYPE Net Lease Quick Service Restaurant
and around the world. Popeyes distinguishes itself with a unique PARENT COMPANY Restaurant Brands International, Inc.
New Orleans style menu featuring spicy chicken, chicken tenders,
fried shrimp, and other regional items. The chain’s parent compa- oWNERSHIP Public
ny, Restaurant Brands International Inc. (”RBI”) (NYSE: QSR), LEASE GUARANTOR Franchisee
operates over 24,000 restaurants in more than 100 countries with
more than $30 billion in system-wide sales. RBI owns three of the
stock symbol PLKI
world’s most prominent and iconic quick service restaurants BOARD NASDAQ
brands - Tim Hortons, Burger King, and Popeyes.
TERM REMAINING ON LEASE Fifteen (15) Years
OPTIONS TO RENEW (4) 5-Year Options
ABOUT THE TENANT lease type Absolute NNN
Funky Chicken, LLC, the tenant, is a rapidly growing Popeyes LANDLORD RESPONSIBILITY None
franchisee operated by Purple Square Management. The
guarantor, Purple Square Management, a very experienced and INCREASES 10% Every 5-Years
successful growing franchisee of Popeyes and Dunkin’ Donuts, year 1 net operating income $143,000.00
currently operates over 100 locations throughout Florida and
Georgia. One of the largest and fastest growing operators in the no. of locations 2,600+
country, Purple Square Management has earned Dunkin’ Brands’ headquartered Atlanta, GA
“National Rising Star Award” (2008), “Franchisee of the Year
Award” (2014), and “Philanthropist of the Year Award” (2015).
website www.popeyes.com
years in the business Since 1972
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
executive summary
INVESTMENT OVERVIEW INVESTMENT HIGHLIGHTS
The subject property is a newly constructed Popeyes drive-thru • Brand New 2021 Construction (New Prototype)
located in Blue Ridge, GA. The brand new 15-year absolute NNN
lease includes 10% rental increases every 5-years in the primary • 15-Year Absolute NNN Lease w/ 10% Increases Every 5-Years
term and in the (4) five-year option periods.
The property is strategically located at a busy signalized • Traffic Counts Exceed 28,000 Vehicles Per Day
intersection directly across from Burger King and Arby’s in the
heart of the retail corridor anchored by Home Depot and Wal-Mart. • Located at Signalized Intersection & Hard Corner
This Popeyes benefits from its convenient access at the hard
corner of Appalachian Hwy and Cook Street, which boasts over • Average Household Income Exceeds $71,000 (5-Mile Radius)
28,000 VPD. The Blue Ridge population has been rapidly growing
and is expected to grow another 6.0% over the next 5-years. • 6.0% Expected Population Growth Over the Next 5-Years
National retailers in the immediate vicinity include McDonald’s,
Home Depot, Wal-Mart, AT&T, Starbucks, Zaxby’s, Burger King,
Arby’s, BB&T, and many more. This is an excellent opportunity for
an investor to purchase a stable, long term investment with zero
landlord responsibility.
REPRESENTATIIVE PHOTO
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
subject property The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
subject property The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
AERIAL PHOTO
6.0% Expected
Population Growth
Over Next 5-Years
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
LOCATION MAP The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
AREA MAP The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
MARKET overview
ATLANTA, GEORGIA
The Atlanta Metropolitan Area is the most populous metro area in Georgia and the ninth-largest Metropolitan Statistical Area in the United States. The Atlanta Metropolitan Statistical Area is
included in the Atlanta-Sandy Springs-Gainesville, Georgia-Alabama Combined Statistical Area. This CSA spans up to 39 counties in north Georgia with about 6.3 million people making this the
third largest metropolitan region after Greater Washington and South Florida. Dobbins Air Reserve Base on the south side of town and a Lockheed Martin manufacturing plant are among the
major industries in the city. Kennesaw State University (Marietta Campus) formally Southern Polytechnic State University (SPSU), and Life University are located in Marietta, serving more than
20,000 students in more than 90 programs of study.
Atlanta is rated a "beta(+)” world city that exerts a moderate impact on global commerce, finance, research, technology, education, media, art, and entertainment. It ranks 38th among world cities
and 10th in the nation with a gross domestic product of $320 billion. Atlanta's economy is considered diverse, with dominant sectors that include logistics, professional and business services,
media operations and information technology. In 2016, Atlanta was the third-most visited city in the United States, with over 51 million visitors per year. Although the most popular attraction
among visitors to Atlanta is the Georgia Aquarium, the world's largest indoor aquarium, Atlanta's tourism industry is mostly driven by the city's history museums and outdoor attractions. Atlanta
is home to professional franchises for four major team sports: the Atlanta Braves of Major League Baseball, the Atlanta Hawks of the National Basketball Association, the Atlanta Falcons of the
National Football League, and Atlanta United FC of Major League Soccer.
3rd Largest Metropolitan Ranked # 10 Home to the Largest
Region After Greater Washington in the Nation with a Gross Domestic Concentration of Colleges and
and South Florida Product of $320 Billion Universities in the Southeastern U.S.
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.DEMOGRAPHIC REPORT
REPRESENTATIVE PHOTO
population 5 MILEs 10 MILEs 15 miles households 5 MILEs 10 MILEs 15 miles
2026 Projection 12,281 29,619 51,660 2020 Est. Avg. HH Income $71,354 $71,276 $69,628
2021 Estimate 11,628 28,042 48,881 2026 Projection 5,307 13,001 22,409
2010 Census 10,339 24,964 43,428 2021 Est. Households 5,003 12,260 21,123
Percent Change 2010-2021 12.47% 12.33% 12.56% 2010 Census 4,381 10,762 18,512
Percent Change 2021-2026 5.62% 5.62% 5.68% Percent Change 2010-2021 14.20% 13.92% 14.10%
Median Age 51.55 53.62 53.44 Percent Change 2021-2026 6.08% 6.04% 6.09%
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.Wertz Real Estate Investment Services
3138 Roosevelt Street, Suite L
Carlsbad, CA 92008
Tel: (619) 218-6427
Fax: (858) 408-1830
www.wertzrealestate.com
Listed with Georgia broker
DZ Net Lease Realty, LLC license h-63528Real estate disclosure for the state of Georgia
This document is to be attached to marketing packages, brokerage
agreements and offers revised 12.13.19
(Please put an X below in front of what is applicable)
DZ Net Lease Realty, LLC and non-Georgia broker are:
Not the brokers of a party for the proposed transaction and will help both parties
equally.
X Brokers of the seller/landlord.
Brokers of the buyer/tenant.
Brokers of both the seller/landlord and buyer/tenant and are acting as dual
agents.
(Please put an X below in front of what is applicable)
DZ Net Lease Realty, LLC and/or non-Georgia real estate broker shall be paid by:
X Seller/landlord
Buyer/tenant
Seller/landlord AND buyer/tenant
(Please put an X below in front of what is applicable)
_________________________________________________ is the broker of:
The broker of the buyer/tenant
There is not a broker of the buyer/tenant
_________________________________________________ shall be paid by:
(Please put an X below in front of what is applicable)
Seller/landlord
Buyer/tenant
Not applicable
Acknowledged and Accepted:
______________________ _________ ___________________ _________
Seller/landlord Date Buyer/tenant DateYou can also read
